Analyze This, November 2011

23

Number of individual housing markets in October that showed “improvement,” according to the second edition of the National Association of Home Builders/First American Improving Markets Index (IMI). This is nearly double the 12 housing markets that made the list last month. The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices.

Source:National Association of Home Builders

One-Stop Placement: Market Trends, Construction

2%

Anticipated percentage increase in construction put in place in 2011, based on FMI’s “Construction Outlook: Third Quarter 2011 Report.” Projecting a 6% increase for 2012, putting the market at $886.2 billion in total construction, FMI explains in the report that although 2% may sound like ambitious growth in today’s economy, in constant 2006 dollars, that is only 3% growth for 2012 and a 1% drop in construction for 2011. To put this into perspective, the firm estimates that 2012 will bring a return to 2003 levels of construction in current dollars.

Source:FMI

One-Stop Placement: Market Trends, Construction

5.6%

Percentage increase in NEMA’s shipment index for incandescent lamps for the second consecutive quarter in Q2 2011, as compared to the same period last year. Conversely, the index for compact fluorescent lamps (CFLs) declined for the fifth consecutive quarter — the rate of decline in the shipments index accelerated to 18.5% on a year-over-year basis versus 16.8% and 8.7% during Q1 2011 and Q4 2010, respectively. The incandescent lamp share of 80% for the combined incandescent-CFL market is the highest reading since Q4 2007. Weakening demand for CFLs drove down its share of the combined CFL-incandescent market to 20%. The sales ratio for CFLs decreased to one out of every five lamps from one in four lamps ratio exhibited during the previous two years.

Source:NEMA

One-Stop Placement: Market Trends, Construction

26,000

Number of construction jobs added between August and September, according to analysis of new federal employment data by the Associated General Contractors of America. This total was accompanied by a drop in the industry’s unemployment rate to 13.3%. According to AGC officials, the increase is the first significant change in construction employment levels since February and reflects growing private sector demand for non-residential construction projects.

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